The Canadian real estate market has seen a significant uptrend in the last several years. Specifically, several secondary market’s have seen material growth in infrastructure and residential home prices pushing these cities into the primary real estate territory.
The Hamilton/Burlington market, being one of them, has experienced stable growth over the last decade. March’s market data continued to support this trend as average residential home prices increased 4.9% to $575,099.
The region had a reported 1,302 sales of residential properties located within the RHAB (REALTORS® Association of Hamilton-Burlington) market area. This is a 74% increase from January 2019, and a 1.2% decrease from the previous March.
Specific neighbourhoods amongst the region see differing results. One noteworthy neighbourhood that continues to exemplify growth is Hamilton Mountain area. Seeing sales decreased 4.94% from last year and an increase in average sales price of 5.88% to an average price of $488,374.